Realtors now have instant access to future commissions through new Hyyve partnership

Hyyve has teamed up with iCommission to provide Realtors with early access to commissions, as stated by the Toronto-based platform. This collaboration enables agents to receive portions of their future commission once a listing agreement is signed and the property is listed on MLS, according to a company press release.

How it operates

As per the partnership terms, iCommission becomes the exclusive commission financing provider within the Hyyve ecosystem. Nevertheless, Hyyve CEO Patrick Armstrong highlights that agents are still free to explore other financing options or choose not to finance commissions at all. Armstrong views this arrangement as a value-added, cost-effective choice aimed at providing agents with more leverage on the platform.

Through Hyyve, Realtors can bid on listings, presenting proposals directly to sellers that may include marketing strategies, client reviews, and performance data. Agents pay upfront for the listing rights, and homeowners receive the funds even if the property doesn’t sell.

Chris Jia, president of iCommission, explains the commission advance process. For agents who have signed a listing agreement and listed the property on MLS, “iCommission will approve $1,000 to $5,000 quick advance based on agents’ past production history,” Jia elaborates via email, subject to brokerage and policy approval.

What are the costs?

For active listings, the fees for advances range from $0.70 to $0.80 per thousand per day, depending on agent qualifications.

Jia mentions that there are no administrative fees or holdbacks, but cautions that if a listed property doesn’t sell, the advanced funds become the agent’s personal liability.

Once a sale is finalized with all conditions waived, agents can access larger advances—up to 90% of their net commission. The fees for these advances range from $0.60 to $0.75 per thousand per day. iCommission extends these advances for residential, preconstruction, and commercial transactions.

Armstrong states, “Our goal is to equip agents with the necessary tools for success. By facilitating immediate access to commission earnings, we empower Realtors to make confident investments in their operations and future growth.”